Provides counterparties with flexible, easy-to-install and secure solution for subscribing to market data and publishing axes.
MDX Technology (MDXT), a leading provider of real-time data distribution solutions to the trading community, today announced that MarketAxess, an operator of a leading electronic trading platform for fixed-income securities and a provider of market data and post-trade services, has gone live with the MDXT data distribution platform for secure, controlled distribution of market data and collection of axes.
The implementation followed MarketAxess’ requirement for a more flexible way to distribute data and connect to its Open Trading™ buy-side users’ systems. The MDXT platform provides users with a proven, easy-to-use solution that its customers can quickly implement and activate.
“As fixed-income market structure has evolved in recent years, both clients and dealers need more efficient and cost effective ways of locating liquidity,” said Paul Watmough, CEO, MDX Technology. “The MDXT data distribution platform helps MarketAxess’ clients connect through common productivity tools like Excel, enhancing MarketAxess Open Trading™ with full end-to-end data distribution capabilities. MarketAxess users now have access to more data through a solution that is easy to install and is secure for subscribing to market data and publishing axes.”
By implementing the MDXT data distribution platform, MarketAxess participants can now easily subscribe to a range of data sets, including Axess All™ and Composite Price, with others to be added. These data sets are delivered in real time to their tool of choice, typically Microsoft Excel, in which they can perform their analytics. The solution also provides counterparties with the ability to conveniently post axes from the same familiar and secure environment to the MarketAxess trading system – all via the same MDXT platform.
Richard Schiffman, Head of Open Trading, MarketAxess, said, “MarketAxess has over 1,200 buy-side and dealer participants around the world and we’re always looking for new solutions to make their interactions with our system easier and more seamless. MDX provided us with an additional turnkey integration solution that augments our workstation and FIX APIs. The ability to consume our market data and interact with our trading platform directly from within Excel is a big productivity gain for traders.”
For any business function, like trading, that has the need to subscribe to, share or publish data to any internal or external destination, MDX offers highly flexible bi-directional data distribution and collaboration solutions that gets your data to where you want it, on time, every time! Unlike many legacy data distribution platforms, MDX is rapidly deployable, on premises or in the cloud, minimising the total cost of ownership and maximising the value of your data. Our proven solutions, developed by the industry’s leading experts in this field, are already in use within some of the world’s premier trading institutions. They are recognised as being one of the most robust and reliable data distribution systems on the market today. MDX Technology is privately owned and headquartered in London, with sales and customer support representation in all the major financial centres, either directly or via a trusted international partner network.
MarketAxess operates a leading electronic trading platform that enables fixed-income market participants to efficiently trade corporate bonds and other types of fixed-income instruments using MarketAxess' patented trading technology. Over 1,200 institutional investor and broker-dealer firms are active users of the MarketAxess trading platform, accessing global liquidity in U.S. high-grade corporate bonds, emerging markets and high-yield bonds, European bonds, U.S. agency bonds, municipal bonds, credit default swaps and other fixed-income securities. MarketAxess also offers several trading-related products and services, including: market data to assist clients with trading decisions; connectivity solutions that facilitate straight-through processing; technology services to optimize trading environments; and execution services for exchange-traded fund managers and other clients. Through its Trax® division, MarketAxess also offers a range of pre- and post-trade services, including trade matching, regulatory transaction reporting and market and reference data, across a range of fixed-income products. Trax is the trading name of Xtrakter Ltd., a MarketAxess group company.
MarketAxess maintains its headquarters in New York and has offices in London, Boston, Chicago, Los Angeles, Miami, Salt Lake City, San Francisco, São Paulo, Hong Kong and Singapore.